Charles Schwab - Charles Schwab Bank Customer Service Rep | Glassdoor
There are newer employer reviews for Charles Schwab
There are newer employer reviews for Charles Schwab

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Helpful (3)

"Charles Schwab Bank Customer Service Rep"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Schwab Bank Customer Service Representative in Denver, CO
Current Employee - Schwab Bank Customer Service Representative in Denver, CO
Doesn't Recommend
Neutral Outlook
Approves of CEO

I have been working at Charles Schwab full-time (More than a year)

Pros

for the most part, great managers and coworkers. benefits are fantastic. health, vision, and dental insurance are all very competitive. Directors are very present, I have met many of the senior level people on several occasions. Schwab genuinely wants their employees to be happy, and takes many steps to put that to action.

Cons

Where to begin... to say that the bank technology is old is a gross understatement. Bank reps literally use 20 different systems, none of which communicate with each other, and they all do ONE single thing. The pay with Schwab Bank does not compensate for the verbal abuse that has to be tolerated by reps on a day to day basis. Clients are often EXTREMELY angry when they call in, usually because their debit card has been declined or blocked due to the conservative fraud monitoring system on the cards. The turnover with Schwab Bank is very high due to these and other frustrations, and the training is not long or thorough enough, so there are always new reps that are making grave mistakes and/ or giving out wrong information. You take call after call after call, with very structured and limited breaks. Also, Schwab Bank is an online bank, but they don't offer e-statements or e-transfers for savings accounts... Just another example. Doesn't make sense.

Advice to Management

invest some money in the bank. it's a very small piece of Schwab overall, but clients lose faith SO quickly in the company when they have problem after problem, and mistake after mistake. Compensate your people better. The amount that we make isn't enough for what we do.

Other Employee Reviews for Charles Schwab

  1. Helpful (7)

    "Lousy work environment - nobody is your friend."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Department Manager in Denver, CO
    Current Employee - Department Manager in Denver, CO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Charles Schwab full-time (More than 8 years)

    Pros

    A job. I guess the ethics are ok. Good deals for Advisors

    Cons

    Everything else. Super micromanaging orwellian culture that makes everyone bitter and on edge. Everyone will throw you under the bus if they think it will get them an extra dime. Hate how they don't appreciate anyone.

    Advice to Management

    Care about employees. Make the departments a team instead of one big dogfight. Impossible to make friends in this culture.


  2. Helpful (8)

    "Vice President-Financial Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President, Financial Consultant in San Jose, CA
    Current Employee - Vice President, Financial Consultant in San Jose, CA
    Neutral Outlook

    I have been working at Charles Schwab full-time (More than 10 years)

    Pros

    Ethical financial guidance;
    Reasonable/affordable product pricing;
    Transparency of fees;
    Great brand name;
    Work/life balance;
    Supportive and collaborative work environment;
    Diverse employee base;
    Embracement of new technologies;
    Good benefits;
    Time to volunteer of 8 hours per year;

    Cons

    Few career advancement opportunities or options except growing own practice;
    Employee base is diverse, but management is not;
    Overly cumbersome paperwork and procedures, especially on advice products;
    Frequent changes in executive level leadership result in inconsistent policies;
    Opinions of top producers count, but not the others;
    Favoritism hurts morale;
    Quarterly resets burn out even the best calibers;
    Termination after 2-4 quarters of bottom 20% sales: Financial Consultants are treated like disposables within the company while trying to convince clients they are experienced and trusted advisors and will be there for clients for a long time;

    Advice to Management

    If you would like clients to believe they are dealing with a trusted advisory service provider firm, you need to respect and empower your front-line Financial Consultants, especially those with 10+ years of experiences, and allow for bottom-up feedback and participation instead of only top-down dumping of compensation/advice/product policy changes, campaigns and quotas.

There are newer employer reviews for Charles Schwab
There are newer employer reviews for Charles Schwab

See Most Recent

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